AON (NYSE:AON) Given New $419.00 Price Target at TD Cowen

Key Points

• TD Cowen has downgraded its price target for AON's stock from $427.00 to $419.00, while maintaining a "buy" rating, indicating a potential upside of 16.36% from the current price.
• Despite the downgrade, the overall consensus among analysts remains positive, with one strong buy, ten buy, five hold, and one sell ratings for AON's stock.
• AON's stock performance shows a recent price of $360.09, with a 12-month trading range between $323.73 and $412.97, reflecting investor volatility.

AON (NYSE:AON - Free Report) had its price objective lowered by TD Cowen from $427.00 to $419.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the financial services provider's stock.

AON has been the subject of several other research reports. Evercore ISI lifted their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Citigroup assumed coverage on AON in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price for the company. Piper Sandler lifted their target price on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Morgan Stanley upgraded AON from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. Finally, Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AON currently has an average rating of "Moderate Buy" and an average target price of $414.69.

AON Stock Down 0.8%

Shares of AON stock traded down $2.71 during trading hours on Wednesday, reaching $350.05. The company had a trading volume of 3,728,789 shares, compared to its average volume of 1,027,788. AON has a twelve month low of $323.73 and a twelve month high of $412.97. The stock's fifty day simple moving average is $363.92 and its 200 day simple moving average is $366.61. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $75.48 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the firm earned $2.93 EPS. AON's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that AON will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 1st. AON's payout ratio is currently 24.96%.

Institutional Trading of AON

A number of hedge funds and other institutional investors have recently modified their holdings of AON. Financial Gravity Asset Management Inc. acquired a new position in shares of AON in the 1st quarter worth $28,000. Saudi Central Bank acquired a new position in shares of AON in the 1st quarter worth $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of AON in the 2nd quarter worth $31,000. Pinnacle Bancorp Inc. grew its holdings in shares of AON by 56.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock worth $32,000 after acquiring an additional 33 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of AON in the 2nd quarter worth $32,000. Institutional investors own 86.14% of the company's stock.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.